Universal Truckload announces higher 1Q earnings

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Universal Truckload Services Inc. announced that operating revenues for the 13 weeks ended March 31 increased 11.6 percent, or $18.2 million, to $175.8 million from $157.6 million for the 13 weeks ended April 2, 2011. The company’s operating ratio improved 70 basis points to 96.9 percent from 97.6 percent. Income from operations increased by 40.4 percent, or $1.5 million, to $5.4 million from $3.8 million. Net income increased by $0.7 million to $3.6 million from $2.9 million.

“The first quarter of 2012 proved to be another solid quarter for us,” said Don Cochran, president and chief executive officer of the Warren, Mich.-based company. “Our revenue growth in the first quarter of 2012 was driven by an increase in the number of loads we hauled and in our average operating revenue per loaded mile compared to the first quarter of 2011. We maintain our positive outlook on 2012, although cognizant of the challenges ahead, and will continue to look for ways to improve our operating efficiency.”